Reno Tahoe USA News Releases

RSCVA REPORTS HIGHEST-EVER AVERAGE ROOM RATE OF $100.10 FOR WASHOE COUNTY HOTELS AND RESORTS IN AUGUST

2013-09-26

RENO,
Nev. (September 26, 2013) — The Reno-Sparks Convention and Visitors
Authority announced today that the Average Daily Room Rate (ADR) for area
hotels in August 2013 was the highest ever recorded by the organization: $100.10
(up 11.7% versus 2012). In addition, the overall market rate of $93.16 is a
10.7% increase from last August’s $84.17 and contributed to Taxable Room
Revenues, throughout Washoe County, of more than $32.1 million, a 9.3% increase
year-over-year.

“After over
five years of no growth, it is most gratifying to see this kind of
year-over-year performance by Reno, Sparks and North Lake Tahoe’s hotel and
resort community,” said RSCVA President and CEO Christopher Baum. “The first
two-thirds of 2013 have proved that our destination can charge higher rates
without scaring away new and returning customers; we’re still a great value
even when our YTD hotel rates increase almost $10 ($9.52) over 2012.”

Baum noted
that the region’s performance is a combination of more meeting and convention
business, great sporting events like USBC bowling and volleyball, a strong
special events season – including the addition of the Barrett-Jackson auction
to Hot August Nights – and increased volumes of vacation and business travelers.

“It took a
lot of hard work by the RSCVA team and our travel industry and special event
partners to make this happen,” according to Baum. “We are definitely making
major progress in growing both meetings industry and consumer awareness – and
trial – of all that our wonderful region has to offer.”

Calendar
Year 2013 is showing year-over-year improvement in all of the major financial
classifications as well. Growth from January through August 2013 has realized
Taxable Room Revenues of $185.4 million (16.9% YOY), ADR of $79.84 (12.3% YOY)
and Cash Occupied Room Nights of 2.3 million (4.1% YOY).

Sustained
improvement in the first eight months of 2013 contributed to positive trends
actualized in the RSCVA’s Fiscal Year 2012-2013, which was the highest
performing period for Taxable Room Revenues, ADR, and Cash Occupied Room Nights
since Fiscal Year 2007-2008. The ADR for Fiscal Year 2012-2013 was the
second-highest ever recorded at $74.91, showing a year-over-year increase of
4.8%. (The highest ADR on record was $78.23, realized in Fiscal Year
2007-2008.) Beginning July 1, 2012 and ending June 30, 2013, year-over-year
increases were also seen in Taxable Room Revenues of $252.1 million (8.9% YOY),
Cash Occupied Room Nights of 3.3 million (3.9% YOY), and Percentage of
Occupancy of 62% (4% YOY).

The RSCVA is
the primary agency supporting the promotion of meeting, convention and tourism
business for the Reno/Sparks/North Lake Tahoe region. Reno Tahoe USA is a
friendly, four season resort destination – in a spectacular natural setting –
that offers world class attractions, activities and events to excite the passions
of almost anyone. For more information visit www.VisitRenoTahoe.com.

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